MONTPELIER — A Connecticut company has been selected to design and implement Vermont’s new online business service portal for the Division of Corporations.

PCC Technology Group of Bloomfield, Conn., was awarded the contract to create the new system that will allow Vermonters to transact the majority of their business with the state online, Secretary of State James Condos announced Tuesday.

“We currently run on an outdated DOS system, combined with over 60,000 pieces of paper mailings, the cost of stamps, the envelopes, and the inefficiency associated with that process,” Condos said. “We looked at best practices in other jurisdictions where they have successfully leveraged information technology to reduce waste, increase response times, and provide greater value to the taxpayer.”

The first phase of the new system will introduce the online annual report function which will go live in the first quarter of 2013. The entire system will be fully functional by early 2014.